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Joan Robinson (1903 – 1983)


British post-Keynesian economist who made many contributions to economic theory.
Joan Robinson
Reality is never a golden age.
Robinson quotes
Time, so to say, runs at right angles to the page at each point on the curve.
Robinson
Income from property is not the reward of waiting, it is the reward of employing a good stockbroker.




Robinson Joan quotes
It is the rate of investment which governs the rate of saving, and not vice versa.
Robinson Joan
Even if the crises that are looming up are overcome and a new run of prosperity lies ahead, deeper problems will still remain. Modern capitalism has no purpose except to keep the show going.
Joan Robinson quotes
An agent must have some discretion.
Joan Robinson
"Whatever you can rightly say about India, the opposite is also true."
Robinson Joan quotes
In all the talk in the Principles (as opposed to the formal analysis) it is not the saving of rentiers but the energy of entrepreneurs which governs accumulation.
Robinson
...the misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all.
Robinson Joan
When I came up to Cambridge (in October 1921) to read economics, I did not have much idea of what it was about.
Joan Robinson
The orthodox doctrines of economics which were dominant in the last quarter of the nineteenth century had a clear message. They supported laisser faire, free trade, the gold standard, and the universally advantageous effects of the pursuit of profit by competitive private enterprise.




Joan Robinson quotes
'Capital' is not what capital is called, it is what its name is called.
Joan Robinson
The bastard Keynesian doctrine, evolved in the United States, invaded the economic faculties of the world, floating on the wings of the almighty dollar.
Robinson quotes
I began to read Capital, just as one reads any book, to see what was in it; I found a great deal that neither its followers nor its opponents had prepared me to expect.
Robinson Joan
Until recently, Marx used to be treated in academic circles with contemptuous silence, broken only by an occasional mocking footnote. But modern developments in academic theory, forced by modern developments in economic life the analysis of monopoly and the analysis of unemployment have shattered the structure of orthodox doctrine and destroyed the complacency with which economists were wont to view the working of laissez-faire capitalism. Their attitude to Marx, as the leading critic of capitalism, is therefore much less cocksure than it used to be. In my belief, they have much to learn from him.
Robinson Joan quotes
Why did the hunters in the Wealth of Nations exchange beavers for deer?
Joan Robinson
It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.
Joan Robinson quotes
A depression is a situation of self-fulfilling pessimism.
Joan Robinson
It seems that neither the Keynesian nor the Marxian prognosis of the future of capitalism is being fulfilled and we are left without any particular theory as to what will happen next.
Robinson Joan
There is an unearthly, mystical element in Friedman's thought. The mere existence of a stock of money somehow promotes expenditure. But insofar as he offers an intelligible theory, it is made up of elements borrowed from Keynes.


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